Chap. 2.—An ACT to authorize the board of supervisors of Madison county to
effect a loan for county purposes.

Approved December 12, 1895.

1. Be it enacted by the general assembly of Virginia, That the
ard of supervisors of Madison county be, and they are hereby,
authorized and empowered, at any meeting at which the majority
said board shall be present, to issue coupon bonds in the name
Madison county for a sum not exceeding five thousand dollars in t
aggregate, to be negotiated at not less than par, the proceeds ther
to be used for the payment of outstanding county warrants whi
are unpaid when this act takes effect. The said bonds issued
pursuance of this act shall be for one hundred dollars each, a
made payable in instalments of one thousand dollars at five, six, seve
eight and nine years from date of issue. All of said bonds sh
bear interest, payable semi-annually, at a rate not exceeding six pe
centum per annum, and they and the coupons thereto attached sha!
be signed by the president of the said board of supervisors, be al
tested by the clerk of the county court of Madison county, and hav
the seal of the said court affixed thereto. The proceeds of sai
bonds shall be placed in the hands of the treasurer of the county a
Madison, and shall be paid out upon the order of the board of supe!
visors of said county for the aforesaid purposes.

2. That the debts contracted and evidenced by said bonds shall b
levied for by the board of supervisors upon such subjects of taxatio
as now are or may be liable for the county levy, and that the faith ¢
said county is pledged for the punctual payment of the said bond
principal and interest, as the same shall; fall due.

3. This act shall be in force from its passage.